Russian Perfumery and Cosmetics Grow in 2003

RUSSIA: In February, ExpoMediaGroup, Staraya Krepost, held a briefing to provide an update on the 2003 Russian perfumery and cosmetics market. According to company representatives, the market in 2003 was $5.2 billion, constituting a 20% increase from 2002.
Analysts stated that importers, investments from Western companies and domestic entrepreneurs all contributed to the growth. A considerable increase of Russian manufacturers’ quantity and improvement of their production quality was also noted, as well as companies’ attempts to create their own trademarks and conduct active positioning of brands.